LG Electronics (LG) has just launched a worldwide competition, called “ Mission pour l’Avenir ”, in order to identify innovative technologies and business ideas that pave the way for the future, but above all to recruit new talents, let the company know in a note on September 29.
Organized by the company’s Silicon Valley-based innovation center, LG NOVA, the “ Mission for the Future competition ”is a nine-month annual challenge program, created to seek out the best ideas, concepts and businesses that will improve the quality of life in a greener, smarter, healthier and more connected future.
For this 2021-22 edition, the competition will highlight innovations for technologically advanced lifestyles for the good of people, communities and the planet through five focusing tracks that are the “ Connected health ”, the “ Energy mobility ”, the“ intelligent lifestyles ”, the“ Metaverse ” and “ Innovation for impact ”.
Selected participants will start working with the LG NOVA team (which is a strategic team within LG, working with startups and entrepreneurial communities to create new businesses and bring further innovation to LG) on their business proposals within three to six months, until the finalist selection process begins in March 2022. Competition finalists will have the opportunity to work with the California-based LG NOVA team to accelerate their growth and take their business to the next level, potentially starting a new business e with LG.
The company intends to set aside up to $ 20 million to support the finalists with investments, resources, funding for concept development and access to LG’s global infrastructure and supply chain to create joint ventures with LG.
The LG NOVA team will continue the engagement process with the top 50 startups of January to March 2022 with the intention of announcing the 20 Selected by the end of March 2022. This group will have opportunities to access capital investments, LG’s global infrastructure and other business resources based common strategy and growth needs.
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